Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,660 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,170 |
| 3 Bedrooms | $2,860 |
| 4 Bedrooms | $3,440 |
| 5 Bedrooms | $3,990 |
| 6 Bedrooms | $4,469 |
| 7 Bedrooms | $4,827 |
| 8 Bedrooms | $5,068 |
The ZIP code 92521, located within the Riverside-San Bernardino-Ontario, CA MSA, presents a unique set of characteristics when compared to typical ZIP codes in this metro area. The Fair Market Rent (FMR) for 92521 in fiscal year 2024 is set at $2090. This figure is a critical benchmark for landlords and investors interested in properties that cater to tenants eligible for Section 8 housing assistance.
Unfortunately, specific market rent and home value data for ZIP 92521 are currently unavailable. However, the absence of these figures does not diminish the importance of the FMR as an indicator of rental affordability within the region. Typically, ZIP codes with lower FMRs relative to their metro areas are considered value pockets, offering opportunities for cost-effective investments. Conversely, higher FMRs suggest a premium sub-market, where rents are generally above average.
The lack of detailed home value data prevents a direct comparison with the broader Riverside-San Bernardino-Ontario, CA MSA. However, if we consider that ZIP 92521's FMR is indicative of its rental market dynamics, it can be inferred that the area is likely a value pocket within the metro. This is because the FMR of $2090 suggests that the rental prices in this ZIP code are lower than what might be expected in a premium sub-market, which would typically command higher rents.
The percentage of renters in ZIP 92521 is also not available, but this metric is crucial for identifying potential Section 8 sweet spots. High renter shares coupled with below-average home values often indicate neighborhoods where Section 8 tenants can find affordable housing. Since we cannot quantify the renter share for 92521, it remains speculative whether this ZIP code aligns with such a sweet spot. Nonetheless, the relatively low FMR supports the hypothesis that 92521 could be an attractive location for landlords and investors seeking to serve a significant portion of the rental market.
In summary, while there is limited data on market rents and home values, the FMR of $2090 for ZIP 92521 points towards a value pocket within the Riverside-San Bernardino-Ontario, CA MSA. This makes it a potentially lucrative investment opportunity for those interested in serving the rental market, particularly tenants eligible for Section 8 assistance.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.